CMA approves payment system operator consolidation

With an eye on making it easier for market entry and competition, the Competition and Markets Authority has approved the consolidation of the existing payments systems operators.

The view is that this is the first step in the path to creating common standards for participation, and eventually to increasing competition by providing an easier platform for new fintechs to enter the payments industry.

{

This should make it easier for banks, fintechs, and other payment service providers to enter the market and compete effectively.